Two potential side effects have been flagged around changes to the sophisticated investor test following a recent Treasury consultation, which could see thousands of investors no longer classified as ‘wholesale investors’.

Insignia has looked to a rival licensee for its new chief executive to replace Renato Mota.

A Western Australian financial adviser has launched a petition and called for Financial Services Minister Stephen Jones to increase the portion of the ASIC levy paid by licensees ahead of the next levy schedule.

The central bank has announced its first interest rate decision of the year since a major revamp.

It is “highly likely” that global advisory group Brite Advisors misappropriated client funds for its own purposes, the Federal Court has heard, as receivers examine the variance of $100 million in its accounts.